Docklands Stadium in Melbourne will officially be renamed Marvel Stadium in an eight-year agreement that will begin in September.

The deal – estimated to be worth “tens of millions of dollars” – between the venue and The Walt Disney Company Australia was announced on Thursday and will serve to highlight the comic book superheroes of the Marvel universe.

The name change will be the stadium’s fourth since 2000, with Colonial Stadium, Telstra Dome and the current Etihad Stadium all used.

Among the changes will be a range of Disney “activations” at the venue and a Marvel store inside the stadium.

“Marvel is a powerhouse in the entertainment industry and one of the most recognised brand names in the world,” Melbourne Stadium Limited chief executive Michael Green said.

“It is a brand dedicated to audience experiences, which firmly aligns with our vision to create incredible experience for fans.

“Over 18 years, we have become the world’s busiest multi-purpose stadium.

“Now, we look forward to a new era of entertainment for the stadium where we will push the envelope and continue to deliver world-class events and fan engagement.”

Kylie Watson-Wheeler, Senior Vice President and Managing Director of The Walt Disney Company Australia, added: “Australian fans are amongst the most passionate in the world.

“And through our partnership with MSL, we hope to bring people together, and provide them with a unique opportunity to immerse themselves in the Marvel brand.

“Marvel is known for epic storytelling with heart, action, humour and relatability.

“MSL’s Docklands Stadium has told its own compelling stories over time, via a vast array of sport and entertainment. It’s why this partnership is such a great fit.”

Speaking to ABC, sports marketing guru Con Stavros from RMIT University said he thought the deal could be worth “tens of millions of dollars over the lifetime of the deal”.

“They [Marvel] will actually turn it into an experience and the AFL has been very clear about that stadium needing a little bit of a pep, a little bit of excitement,” he added.

Docklands Stadium was opened in 2000.

The venue is used to stage a host of sporting events and concerts.